URA grants penthouse duplex subdivision

The owner of a penthouse duplex at Horizon Towers has been granted permission by the Urban Redevelopment Authority (URA) to subdivide the unit into two separate apartments.

If sold as a single dwelling, the duplex can fetch its owner, known only as Mr. Ng, over S$3000,000.

“The main reason for the approval request was so that it would be easier to sell with a bigger pool of (potential) buyers. In terms of pricing, I think we can get about five percent more,” said Mr. Ng.

Mr. Ng purchased the duplex unit as an investment and decided to lease it out as separate units, which are linked from the 17th to 18th floor by stairs. It has a total area of 5,167 sq ft from two equally sized living spaces. Mr. Ng blocked off the stairs to build separate units but separate entrances were already present on each floor and both floors had their own kitchens and maid’s rooms.

Savills real estate agent Ryan Heng, who marketed the units at Horizon Towers, said the duplex could fetch up to S$1,200 psf but individually, the units might sell for S$1,250 psf. This means that the whole duplex could be worth S$6.2 million, while its separate units could be worth S$6.5 million.